Table 3 Sustainability in focus (Stage... | Emerald Publishing

Table 3

Sustainability in focus (Stage 1, 2008–2010)

	Wrappers
	Linguistic devices	Contextual discourses and vocabularies found in the reports	Examples from Mitsubishi corporate reports
Language wrapping	1.1.1 Ritualistic phrases adding spiritual power 1.2.1 Indirect and ambiguous language 1.3.1 Caring and protective language	1.1.2 Capital market discourse Vocabulary: Japanese GAAP adjusted to US GAAP 1.2.2 Sustainability discourse Vocabularies: GRI(G3), local Environmental reporting guidelines	1.1.1 “No matter how the world is changing, we are always there” (AR2009, cover pages), “The fiscal year ended March 31, 2009 saw us register our first drop in consolidated net income in seven years. (…) We are moving quickly to implement a host of countermeasures, with our utmost priority being to preserve our financial soundness”. (AR2009, p. 25) 1.1.2 In annual report 2010, the financial performance overview is presented on pp. 4–5, explicitly articulating change between 2010 and 2009, being a decrease of JPY -5,290,399 in operating transactions, JPY -446,469 in gross profit and JPY -407,447 in operating income. Tracking of these measures between 2008 and 2010 shows a gradual deterioration of financial performance. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2010.pdf, pp. 4–5) 1.2.1 “The SR 2009 aims to deepen our stakeholders´ understanding about MC´s environmental affairs and CSR activities. The report is based on broad themes: MC´s businesses from the standpoint of sustainability, ongoing sustainability initiatives, and environmental and CSR performance”. (SR2009, p. 2) 1.2.2 A statement is made about the use of two guidelines (GRI G3 and Environmental Reporting guidelines by Ministry of Environment of Japan) for reporting sustainability in the report. (https://www.mitsubishicorp.com/jp/en/csr/library/sr2009/pdf/09sr-all.pdf, p. 2) 1.3.1a “Suppose you are an investment analyst. How would you analyse Mitsubishi Corporation for investment purposes?”. The reader is carefully guided through the five points of the evaluation process. In a note it is also stated that the “analysis was designed in the style of a hypothetical corporate analysis report to help foster an objective understanding of Mitsubishi’s corporate value among readers”. (AR2008, p. 1) 1.3.1b “…in April 2009, MC established the Corporate Development Section in order to engage in businesses that will drive the Company’s growth in the years ahead. Through the development of clean energy, including solar and wind power, and biomass fuel businesses, MC will continue to contribute in many ways to the realization of a low-carbon society. In terms of social contribution activities, MC is actively promoting activities in four key fields: ongoing social contribution activities, conceived and conducted by employees (…); programs that contribute to various regions around the world (…); activities in the public welfare and education fields (…); and activities related to art and culture (…)”. (AR2009, p. 83)
Social wrapping	1.4.1 Visual presentation of power, status and legitimacy	1.4.2 Corporate governance (CG) discourse Vocabulary of CG and control, ritualistic photos and charts	1.4.1 The board of directors and international advisory committee presented as influential actors defining “the direction MC should head in the future with the global economy standing at a major turning point after the financial crisis”. (AR2010, p. 78) 1.4.2a The presentation repeatedly shows formal, old-fashioned pictures of Board Members, mostly elderly men, with their multiple titles and positions. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2009.pdf, pp. 72–73) 1.4.2b We observe visual charts showing the corporate governance framework and statements on corporate internal control. ”MC has long engaged in creating a framework to ensure that it continues to conduct proper and fair business activities, in addition to upholding legal and regulatory compliance”. This message is accompanied by a photo of a Senior Executive VP, looking experienced, responsible, and compliant. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2010.pdf, pp. 75-78)
Temporal wrapping	1.5.1 Division of time and rhetorical use of history	1.5.2 Historical discourse of Japan keeping its old traditions (nationalistic) Vocabulary: presentation of old corporate principles and corporate history, using pictures and charts	1.5.1 Presentation of different eras of corporate history from 1954 to 2010, showing how Mitsubishi develops over time. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2010.pdf, p. 1) 1.5.2 “The modern day interpretation of the Three Corporate Principles, as agreed on at the Mitsubishi Kinyokai meeting of the companies that constitute the so-called Mitsubishi group in January 2001 [based on] the teachings of Koyata Iwasaki, the fourth president of Mitsubishi. Although Mitsubishi Trading Company ceased to exist as of 1947, the principles were adopted as Mitsubishi’s corporate philosophy, and the spirit lives on in the actions of today’s management and employees”. The first principle is called responsibility to society, but the description incorporates both societal and environmental dimensions. It requires Mitsubishi to “strive to enrich society, both materially and spiritually, while contributing [to] the preservation of the global environment”. The second principle is about integrity and fairness, which, according to Mitsubishi’s interpretation, means “maintaining principles of transparency and openness, conducting business with integrity and fairness”. The third is global understanding through business, which means “expanding business, based on all-encompassing global perspective. (AR2008, p. 2)

	Wrappers
	Linguistic devices	Contextual discourses and vocabularies found in the reports	Examples from Mitsubishi corporate reports
Language wrapping	1.1.1 Ritualistic phrases adding spiritual power1.2.1 Indirect and ambiguous language1.3.1 Caring and protective language	1.1.2 Capital market discourseVocabulary: Japanese GAAP adjusted to US GAAP1.2.2 Sustainability discourseVocabularies: GRI(G3), local Environmental reporting guidelines	1.1.1 “No matter how the world is changing, we are always there” (AR2009, cover pages), “The fiscal year ended March 31, 2009 saw us register our first drop in consolidated net income in seven years. (…) We are moving quickly to implement a host of countermeasures, with our utmost priority being to preserve our financial soundness”. (AR2009, p. 25)1.1.2 In annual report 2010, the financial performance overview is presented on pp. 4–5, explicitly articulating change between 2010 and 2009, being a decrease of JPY -5,290,399 in operating transactions, JPY -446,469 in gross profit and JPY -407,447 in operating income. Tracking of these measures between 2008 and 2010 shows a gradual deterioration of financial performance. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2010.pdf, pp. 4–5)1.2.1 “The SR 2009 aims to deepen our stakeholders´ understanding about MC´s environmental affairs and CSR activities. The report is based on broad themes: MC´s businesses from the standpoint of sustainability, ongoing sustainability initiatives, and environmental and CSR performance”. (SR2009, p. 2)1.2.2 A statement is made about the use of two guidelines (GRI G3 and Environmental Reporting guidelines by Ministry of Environment of Japan) for reporting sustainability in the report. (https://www.mitsubishicorp.com/jp/en/csr/library/sr2009/pdf/09sr-all.pdf, p. 2)1.3.1a “Suppose you are an investment analyst. How would you analyse Mitsubishi Corporation for investment purposes?”. The reader is carefully guided through the five points of the evaluation process. In a note it is also stated that the “analysis was designed in the style of a hypothetical corporate analysis report to help foster an objective understanding of Mitsubishi’s corporate value among readers”. (AR2008, p. 1)1.3.1b “…in April 2009, MC established the Corporate Development Section in order to engage in businesses that will drive the Company’s growth in the years ahead. Through the development of clean energy, including solar and wind power, and biomass fuel businesses, MC will continue to contribute in many ways to the realization of a low-carbon society. In terms of social contribution activities, MC is actively promoting activities in four key fields: ongoing social contribution activities, conceived and conducted by employees (…); programs that contribute to various regions around the world (…); activities in the public welfare and education fields (…); and activities related to art and culture (…)”. (AR2009, p. 83)
Social wrapping	1.4.1 Visual presentation of power, status and legitimacy	1.4.2 Corporate governance (CG) discourseVocabulary of CG and control, ritualistic photos and charts	1.4.1 The board of directors and international advisory committee presented as influential actors defining “the direction MC should head in the future with the global economy standing at a major turning point after the financial crisis”. (AR2010, p. 78)1.4.2a The presentation repeatedly shows formal, old-fashioned pictures of Board Members, mostly elderly men, with their multiple titles and positions. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2009.pdf, pp. 72–73)1.4.2b We observe visual charts showing the corporate governance framework and statements on corporate internal control. ”MC has long engaged in creating a framework to ensure that it continues to conduct proper and fair business activities, in addition to upholding legal and regulatory compliance”. This message is accompanied by a photo of a Senior Executive VP, looking experienced, responsible, and compliant. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2010.pdf, pp. 75-78)
Temporal wrapping	1.5.1 Division of time and rhetorical use of history	1.5.2 Historical discourse of Japan keeping its old traditions (nationalistic)Vocabulary: presentation of old corporate principles and corporate history, using pictures and charts	1.5.1 Presentation of different eras of corporate history from 1954 to 2010, showing how Mitsubishi develops over time. (https://www.mitsubishicorp.com/jp/en/ir/library/ar/pdf/archives/ar2010.pdf, p. 1)1.5.2 “The modern day interpretation of the Three Corporate Principles, as agreed on at the Mitsubishi Kinyokai meeting of the companies that constitute the so-called Mitsubishi group in January 2001 [based on] the teachings of Koyata Iwasaki, the fourth president of Mitsubishi. Although Mitsubishi Trading Company ceased to exist as of 1947, the principles were adopted as Mitsubishi’s corporate philosophy, and the spirit lives on in the actions of today’s management and employees”. The first principle is called responsibility to society, but the description incorporates both societal and environmental dimensions. It requires Mitsubishi to “strive to enrich society, both materially and spiritually, while contributing [to] the preservation of the global environment”. The second principle is about integrity and fairness, which, according to Mitsubishi’s interpretation, means “maintaining principles of transparency and openness, conducting business with integrity and fairness”. The third is global understanding through business, which means “expanding business, based on all-encompassing global perspective. (AR2008, p. 2)

Source(s): Table created by authors